MUMBAI: Sun TV network, the Maran-owned Southern broadcasting major, saw a steep fall and a rebound in its share price on Monday as the scrip closed 10 per cent up on the BSE.

Triggered by the CBI raids on the Maran family premises in Delhi and Chennai, the shares slumped as much as 16 per cent in the early trade hours. However, the scrip bounced back and ended at Rs 288.15, 10.21 per cent higher to its previous close.

The rebound added Rs 10.52 billion to Sun TV‘s market capitalization. The company‘s market cap stood at Rs 113.55 billion at the end of the day.

On the National Stock Exchange also, Sun TV stock closed at Rs 288, up 9.55 per cent, after seeing an intraday low of Rs 221.20.
 

MUMBAI: The global scare of another economic crisis fuelled by huge debt of Uncle Sam has also hit Indian bourses and how.

Even as the Bombay Stock Exchange (BSE) closed at 16,857.91 points, just 0.78 per cent down today, the bear- run, which started on Friday last, is continuing.

And among the media entities, every single listed company has seen erosion in the scrip.

As per data collected from the BSE, Reliance ADAG‘s Reliance MediaWorks (RMWL) is the worst hit. In the last three days, the share price dropped by 16 per cent. On Tuesday, it closed at Rs 95.9 per share, as compared to a closing price of Rs 111.35 on Thursday, 4 August.
 
Following RMWL, there is another multiplex operator, Cinemax, which has seen a 15.47 per cent fall in the scrip price. The shares closed at Rs 30.7 apiece. The closing price for 4 August was Rs 35.45.

Other companies, which lost over 10 per cent of their share value, are BAG Films and Media, Wire & Wireless (India) Ltd (WWIL), Next Mediaworks (earlier Mid-Day Multimedia), NDTV and Fame Cinemas.

Network18 saw erosion of 9.2 per cent, while Hathway Cable & Datacom shares tumbled 8.26 per cent on Tuesday, compared to Thursday last. Zee News Ltd, Den, TV18 and PVR all lost over six per cent of the scrip over the three days.

Meanwhile Balaji Telefilms and HT Media lost just over 5 per cent scrip value when compared with Thursday closing price.

Among the least affected companies were Jagran Prakashan, which saw just 0.9 per cent dip. The shares of company closed at Rs 112.4 on Tuesday, compared to Rs 113.4 on last Thursday. Even UTV Software Communications did not see any change, as it was screened by the Walt Disney‘s offer for buyback. UTV shares closed Monday at Rs 953, down 0.91 per cent from Rs 961.7 on Thursday.

Zee Entertainment Enterprises Ltd (Zeel) also saw just 0.96 per cent drop, to Rs 125.5 per share.

Meanwhile, Dish TV lost 4.11 per cent, followed by Entertainment Networks (India) Ltd (ENIL), Hinduja Ventures, TV Toda, Inox Leisure, Reliance Broadcast Networks Ltd (RBNL) and Sun TV.